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Amy's student loan of $ 2 2 , 0 0 0 at 3 . 1 2 % compounded quarterly was amortized over 5 years with

Amy's student loan of $

22, 000

3.12 %

compounded quarterly was amortized

over

5

years with payments made at the end of every month. What was the

principal balance on the loan after

4

years?

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